Saxon Interests Inc. Takes Position in AbbVie Inc. (NYSE:ABBV)

Saxon Interests Inc. acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,527 shares of the company’s stock, valued at approximately $547,000.

Other large investors also recently modified their holdings of the company. Goepper Burkhardt LLC raised its holdings in shares of AbbVie by 1.9% in the fourth quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock worth $567,000 after buying an additional 67 shares during the period. Syntax Advisors LLC increased its holdings in AbbVie by 4.2% during the 2nd quarter. Syntax Advisors LLC now owns 1,667 shares of the company’s stock worth $225,000 after purchasing an additional 67 shares during the period. First Bank & Trust increased its holdings in AbbVie by 0.4% during the 4th quarter. First Bank & Trust now owns 18,125 shares of the company’s stock worth $2,809,000 after purchasing an additional 68 shares during the period. Clearwater Capital Advisors LLC increased its holdings in AbbVie by 3.9% during the 3rd quarter. Clearwater Capital Advisors LLC now owns 1,859 shares of the company’s stock worth $277,000 after purchasing an additional 69 shares during the period. Finally, Founders Capital Management LLC increased its holdings in AbbVie by 0.3% during the 3rd quarter. Founders Capital Management LLC now owns 22,926 shares of the company’s stock worth $3,417,000 after purchasing an additional 70 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ABBV has been the topic of several research reports. BMO Capital Markets raised their price objective on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Raymond James increased their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Barclays increased their target price on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday. HSBC cut AbbVie from a “buy” rating to a “hold” rating and dropped their target price for the company from $167.00 to $156.00 in a research report on Monday, December 18th. Finally, Truist Financial increased their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $177.43.

Insider Activity at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the transaction, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,233,546.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

ABBV traded up $1.62 on Thursday, reaching $181.97. 5,418,371 shares of the stock were exchanged, compared to its average volume of 5,696,566. The company’s 50-day moving average price is $174.51 and its 200 day moving average price is $157.96. The firm has a market capitalization of $322.21 billion, a PE ratio of 66.66, a PEG ratio of 2.28 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business posted $3.60 EPS. As a group, sell-side analysts forecast that AbbVie Inc. will post 11.15 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.41%. AbbVie’s dividend payout ratio is presently 227.11%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.